The Federal Road Safety Corps (FRSC) Tuesday said the Joint Tax Board has approved an upward review of the rates of the National Drivers License and Vehicle Number Plates.
It added that the new tariffs take effect from 1st November, 2024.
Corps Public Education Officer, Assistant Corps Marshal, Olusegun Ogungbemide in a statement issued Tuesday said the resolution was reached at the end of the 155th Joint Tax Board (JTB) Appraisal and Technical Committee meeting held on September 10, 2024.
He added that the reviewed rates were necessitated by the current economic realities that have affected the overall cost of production.
Ogungbemide noted: “The Joint Tax Board has approved an upward review of the rates of the National Drivers License and Vehicle Number Plates to enhance the seamless production process and improve quality service to the motoring public.”
Justifying the reason behind the increment, he said most of the materials used in the production of both number plates and driver’s licence are sourced outside the shores of the country.
He stressed that the prices of those materials have risen astronomically since the last review conducted by the JTB in 2021 when the exchange rate was N411.63 to $1.
Ogungbemide said: “The new prices as approved by the resolution of JTB are as follows; Standard Private number plates ₦30,000.
“Standard Commercial number plates ₦30,000; Fancy Vehicle number plates ₦400,000; Motorcycle number plates ₦12,000; Articulated vehicle number plates N90,000.
“Dealer number plates- ₦100,000; Out of Series number plates – ₦150,000; Government Fancy Motor Vehicle number plates- ₦120,000; Government Standard Motor Vehicle number plates ₦80,000; Government Fancy Motorcycle number plates ₦50,000 as well as; Government Standard Motorcycle number plates ₦20,000.
“In the same vein, the revised rates for the National Drivers Licence are as follows: Motor Vehicle Driver’s License (3 years): ₦15,000; Motor Vehicle Driver’s License (5 years): ₦21,000; Motorcycle/Tricycle Driver’s License (3 years): ₦7,000; Motorcycle/Tricycle Driver’s License (5 years): ₦11,000.”